Severn Trent leads water utilities lower

Severn Trent leads water utilities lower

European equities markets were higher Thursday after the European Central Bank held interest rates at 1 percent and as the Bank of England held UK rates at 0.5 percent.

The FTSE 100 added 0.93 percent to 4,690.53 in London, while the FTSE 250 was up 1.35 percent to 8,377.55.

Water utilities had a bad day on the 100 and 250 as Severn Trent (LSE: SVT) had the worst day on the 100 as it dropped 4.45 percent, while United Utilities Group (LSE: UU), which also handles electricity and gas, fell 3.22 percent and Pennon Group (LSE: PNN) was down 2.88 percent; over on the 250, Northumbrian Water Group (LSE: NWG) was 2.9 percent lower.

The FTSE Eurofirst 300 was up 0.44 percent to 938.56 while the Dax added 0.32 percent to 5,369.98, the CAC-40 was 0.56 percent lower to 3,477.83 and the IBEX dropped 0.67 percent to 10,776.

Most markets in the Asia-Pacific region were higher on the session.

The Nikkei 225 hit another 10-month closing high as it added 1.32 percent to 10,388.09 while the Topix index was up 0.84 percent to 957.51 and the Mothers market gained 0.1 percent to 458.49.

Taiwan’s Taiex added 0.3 percent to 6,868.65 while the Kospi was up 0.36 percent to 1,565.04 in South Korea.

In Australia, the Sydney Ordinaries gained 1.38 percent to 4,331 and the S&P/ASX200 was 1.45 percent higher to 4,326.3, while the Hang Seng added 1.97 percent to 120,899.24 in Hong Hong.

Not all markets saw gains, however, as the Straits Times Index fell 0.2 percent to 2,601.5 while at the same time the Shanghai Composite was down 2.11 percent to 3,356.33 and the Sensex dropped 2.45 percent to 15,514.03.

At just before 1 p.m. in New York, the Dow Jones Industrial Average was down 0.32 percent to 9,251.57 while the Nasdaq Composite had fallen 0.84 percent to 1,976.36 and the S&P 500 had dropped 0.54 percent to 997.27.

Crude oil, metals and grains prices were all lower on the session.

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